Dangote, a pillar of strength for Nigeria’s industrial growth — LCCI
By Jeffrey Agbo
Lagos Chamber of Commerce and Industries (LCCI) has described Dangote Industries Limited (DIL) as the pillar and strength of the nation’s economy with its many investments.
LCCI president, Gabriel Idahosa, stated this during the Dangote Group Special Day ceremony at the ongoing 2024 Lagos International Trade Fair in Lagos.
He added that the Dangote Group’s journey is a story of strategic diversification and visionary leadership, capitalising on Nigeria’s rich natural resources and creating millions of jobs, opportunities for SMEs, and an environment for foreign investments.
He further said that the group’s commitment to backward integration, where inputs are sourced locally whenever possible, has not only reduced its exposure to foreign exchange volatility but also spurred local industry development.
Dangote restated its commitment to driving the diversification of Nigeria’s economy for growth and job prospects through strategic investments.
The company said while it produces critical household items, some of its other products serve as either feedstock or raw materials for other manufacturers as a sure way of galvanising the nation’s economic independent through industrialisation.
The company’s position came from the Group Executive Director, Commercial Operations, Dangote Industries Limited (DIL), Fatima Aliko-Dangote, represented by the Director of Depot and Logistics, Dangote Cement Plc, Dolapo Alli.
She said, “As a strategic sponsor of the Lagos International Trade Fair, this year’s theme, “Connecting Businesses, Creating Value,” resonates deeply with business objectives of the Conglomerate.
She noted that “at Dangote Group, our focus is on manufacturing. As a manufacturer, we rely on a network of suppliers and service providers for inputs and materials that we cannot source on our own.”
“This commitment informs our active membership in the LCCI and our consistent participation in its activities. Businesses need connections at various levels—business-to-business, distributorship, and ultimately with the final consumers.”
She pointed out that “our recent flagship project, the Dangote Refinery and Petrochemicals, has commenced operations with the rollout of Premium Motor Spirit (PMS), automotive gas oil, JET A1, and other products, including polypropylene.
“We are optimistic that many new manufacturing outfits will emerge relying on both the products and byproducts of the petroleum complex as feedstock in their production processes.”
According to Aliko-Dangote, the evolution of these mutual interdependent industries is expected to revolutionize Nigeria’s economy by creating linkages between different industrial sectors. The linkages will provide cushions to the economy, preventing disruptions in production as raw materials are available.
“Linkages are vital in sustainable economic and industrial development. We are envisaging a connected and interlinked manufacturing sector that will produce goods that are usually imported, and in the process create more jobs for the growing youth population.”
She emphasised that “our participation in this Fair, apart from the exhibitions, is to seek connections with other businesses. We have dedicated staff on ground manning the offices at our stand who are to provide necessary information to all businesses and individuals who desire to do business with us.”
On the group’s interventions, Aliko-Dangote added that “we have commenced export of products from our petroleum refinery to other parts of the world. We also export fertiliser.
“Dangote Group has actively participated in road construction and rehabilitation projects aimed at improving transport conditions. The Group also plays a critical role in export financing, particularly through its cement business.
“Our business units are at the forefront of creating values. It is on record that Dangote Cement enabled Nigeria to attain self-sufficiency in local production of cement. Nigeria is not only a leading producer of cement, but our export capacity has helped also reduced pressure on foreign exchange.”
She further said “Dangote Fertiliser Limited is the largest Granulated Urea Fertiliser complex in Africa. Dangote Sugar is committed to ensure that Nigeria ends the importation of raw sugar into the country by actively intensifying its execution of the Sugar Backward Integration.”
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